US Amity Treaty Company Service in Bangkok, Thailand
What is US – Thai Treaty of Amity?
US – Thai treaty of Amity also known as The Treaty of Amity and Economic Relations between the Kingdom of Thailand and the United States of America is a treaty signed on 29 May 1966 between two countries gives special rights and benefits to American citizens who wish to establish their businesses in Thailand.
The treaty allows for American citizens and businesses incorporated in the US, or in Thailand to maintain a majority shareholding or to wholly own a company in Thailand, and thereby engage in business on the same basis as would a Thai national. These companies are also exempt from most of the restrictions on foreign investment imposed by the Thai Foreign Business Act of 1999.
On the other hand, there are some restrictions imposed by the treaty. The treaty does not allow American investors to engage in following reserved activities
- Fiduciary functions
- Banking involving depository functions
- Land ownership, Exploitation of land or
- Other natural resources; and
- Domestic trade in indigenous agricultural products.
The following two fundamental conditions must be fulfilled in order to register the company under US- Thai Amity treaty
- A minimum of 51% of the shareholding must be held by US citizen
- A minimum of 50% of the company’s director must be American citizen(s)
The procedure to register the company under Amity Treaty might be confusing and time consuming for those who are unfamiliar with the relevant steps and procedure and rules. P&P International Legal can assist you with every steps, rules and regulation for getting your Amity Company is registered correctly smoothly and quickly thus avoiding unnecessary delays.